分税制改革、地方政府干预和金融加速器效应——基于中部地区1995～2008年面板数据的实证分析

运用双向固定效应模型,实证分析了中部地区地方政府对金融发展的干预对金融加速经济发展的效应的影响。研究表明,在经济转型期,中部地区金融业的低水平稳态发展成为阻碍地区经济增长的不利因素。而地方政府因发展经济的强烈动机,适当干预金融发展能弥补地方金融自身发展的不足,促进金融发展推动地区的经济增长。

The Tax Revenue Sharing System, Local Government Intervention and Financial Accelerator Effect -An Empirical Study Based on Panal Date from 1995 -2008 of Central China

Using provincial panel data,this paper empirically investigates into the impact of local government intervention on financial accelerator effect by two-way fixed effect model.The study shows that low steady-state of financial industry in central china leads to financial development become an obstacle to regional economic growth.The local government’s appropriate intervention,because of strong development motivation,can make up lack of regional financial development,which makes the regional financial development is conducive to regional economic growth.